How to determine the market value of a property

Holicent

VIP Contributor
If you're buying a home, you probably already know how much you can afford. But even if you don't have a specific dollar amount in mind, that's ok. You can still get a good idea of what your purchase will cost by looking at similar homes in your area and asking yourself some questions.

How old is the house? If it has been built within the last five years, it may be worth more than one built more recently.

What condition is it in? Is it clean and well-maintained or in need of repair?

What kind of neighborhood does it face? Some neighborhoods are better than others for attracting buyers who want to live there permanently.

How big is the lot? This can make a difference in how much you can afford to spend on renovations and amenities like outdoor space or room for an addition down the road.
 
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